Egypt's food industry exports increase by 25% during H1 of 2024: IDSC

CAIRO – 21 August 2024: In the first half (1H) of 2024, Egypt's food industry exports reached $3.2 billion, marking a 25 percent increase compared to the same period in 2023. This data was released by the Cabinet's Information and Decision Support Centre (IDSC).

 

The top markets receiving Egypt's food industry exports were:

- Saudi Arabia: 15 percent growth rate

- Sudan: 28 percent growth rate

- Palestine: 42 percent growth rate 

- USA: 28 percent growth rate

 

The leading export commodities were:

1. Soft drink concentrates: $309 million, 10 percent growth rate

2. Flour and starch: $246 million, 39 percent growth rate

3. Frozen strawberries: $248 million, 24 percent growth rate

4. Sugar: $194 million

 

The European Union and Arab countries were among the top importers of Egyptian food products, with $1.6 billion and $701 million in imports, respectively.

 

In April 2024, Egypt's trade deficit narrowed, decreasing by 2.5 percent to hit $2.68 billion compared to $2.75 billion during April 2023.

 

Egyptian exports saw a slight uptick in April, going up by 0.8 percent to reach $3.29 billion compared to $3.26 billion recorded in April 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS) monthly bulletin.